On June 30, 2016, the Iowa Attorney General announced a settlement with a for-profit cosmetology college to resolve alleged violations of the Iowa Consumer Fraud Act. The settlement, which took the form of a consent judgment, settled claims that the college engaged in “deceptive, omissive, and unfair practices in marketing,…
On June 21, 2016, the North Carolina Attorney General announced that two online fast cash lenders have agreed to pay more than $9 million in refunds for allegedly illegal loans issued to North Carolina consumers. The settlement stems from a December 2013 complaint alleging that the lenders violated North Carolina usury…
On May 4, 2016, the Kentucky Attorney General announced that it filed a lawsuit against an out-of-state student loan company on May 2, 2016 for failing to turn over key documents in response to a subpoena in an ongoing investigation. The lawsuit alleges that, under the Kentucky Consumer Protection Act, Kentucky…
On April 1, 2016, the California Attorney General announced that it filed suit against a prominent investment bank for alleged “misrepresentations about complex investments such as residential mortgage-backed securities, in which large pools of home loans were packaged together and sold to investors.” The eight-count complaint, which was filed in…
On September 28, 2015, the CFPB announced that it had entered into a consent order and settlement with a national bank for alleged violations of the Dodd-Frank Act’s UDAAP provision for deceptive acts or practices in the marketing and sales of its “Debt Protection” credit card add-on product. The debt…
On July 8, 2015, New York Attorney General Eric T. Scheiderman announced that a court order was obtained that permanently bars a consumer debt collection agency from operating as a debt collector and further requires payment of $550,000 in consumer restitution, civil penalties, and costs. The order was signed following a…
The Consumer Financial Protection Bureau (“CFPB”) took action against two credit card vendors, entering into proposed consent orders regarding the companies’ offerings of allegedly unlawful add-on products. Credit card companies offer consumers “add-on” services, such as credit monitoring or identity theft protection for a monthly or annual membership fee. Following an…
On May 20, 2015, Ohio Attorney General Mike DeWine, along with attorneys general of thirty other states (“the State AGs”), announced a $6,000,000 settlement with three major credit reporting agencies (“CRAs”). According to the announcement and the Settlement Agreement, the settlement is a culmination of a multistate investigation that the…
On Friday, May 15, 2015, the California Department of Business Oversight (DBO) announced that it filed a complaint in state court against an Ohio-based biweekly debt repayment firm and allegedly associated entities (collectively “Defendants”) claiming certain violations of licensing, fee, and consumer protection provisions of California’s Financial Code and Business & Professions…
On May 13, New York Attorney General Eric T. Schneiderman annouced that the AG obtained default judgment against Brooklyn and Florida Law Firms and the firms’ principal attorney for participating in a fraudulent mortgage rescue scheme. The AG’s petition alleged that, directly and through their third-party marketers, the firms collected…